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Red Lobster

Winston Salem, North Carolina

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NNN Pro is pleased to present the exclusive listing for a Red Lobster located
at 1690 Westbrook Plaza Dr., Winston-Salem, NC 27103. The site consists
of roughly 8,292 rentable square feet of building space on an estimated
2.49-acre parcel of land. This Red Lobster is subject to a 25-year Triple Net
(NNN) lease, which commenced 12/23/2014. The current annual rent is
$417,893 and has scheduled increases of 2.00% Annually.

Investment Highlights:

  • Strong Rental Increases | 2.00% Annually In Base Term and Options
  • Long Term NNN Lease | Original 25 Year Lease With Approximately 15.4 Years Remaining
  • Affluent Community | Average Household Income within a Five-Mile Radius Exceeds $78,000

Key Details

Price:
$5,969,900
Cap Rate:
7.00%
Annual Rent:
$417,893
Address:
1690 Westbrook Plaza Dr, Winston Salem, North Carolina 27103
Property Type:
Restaurant - Casual Dining
Lease Type:
Triple Net (NNN)

Original Lease Term:
25
Lease Commencement:
12/23/2014
Lease Expiration:
7/31/2039
Rental Increases:
2.00% Annually
Lot Size:
2.49 Acres
Building Size:
8,292 SF
Year Built:
1998
Tenant:
Red Lobster

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Matthew Anuszkiewicz

License: 10401294046

Robert Stein

License: 10401341647

Andrew Darby

Broker of record

Brian Brockman

Bang Realty-North Carolina, Inc

License: 298998


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